ddl[at]danlan.*com (Dan Lanciani) wrote:
- quote -

Yes. In fact the bank doesn't always win.

- quote -

You mean to choose between them? I seriously doubt it.
That would be like saying they have to choose between
offering checking accounts and savings accounts.

Stu

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spamtrap[at]lexregia.com (Stuart Bronstein) writes:
- quote -

If the bank were to opt to not set aside the funds and then
something bad happened such that the customer's account no
longer had enough to pay on the certified check would the
bank be on the hook (thus violating the bank always wins
rule ?

- quote -

Any banks I've asked have been saying this for years
(perhaps decades at this point). It actually came up in a
real estate closing about ten years ago where the closing
attorney really wanted a certified check and I had no way to
get one, at least not that day. The banks told a little
story (why do they feel compelled to make up these authority
references rather than just saying they don't want to
provide a service?) that each bank is required to decide
whether to offer a certified check service or cashier's
checks and they (all) had chosen the latter. (This isn't
true, it it?)

Dan Lanciani
ddl[at]danlan.*com

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Harlan Lunsford <hnslunsford[at]bellsouth.net> wrote:
- quote -

The fact is that a cashier's check is not guaranteed, but a
certified check is. A cashier's check is almost always
good, because banks generally have enough money to pay them.
But they can be stopped, while certified checks generally
can't be without a lot of trouble, if at all.

Stu

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- quote -

About 20 years back, I worked at a decent sized midwest
bank. a Cashier's check was a check drawn on the bank's own
funds and signed by an officer of the bank.

A certified check was a check drawn on a customer account
which was guaranteed by the bank to be paid "when presented"
---- in perpetuity. This particular bank physically
altered the customer check so it could not be processed
through his or her account. The funds were then withdrawn
and transferred to a trust account reserved for payment of
certified checks and the check was logged. The customer
then signed an acknowledgement that only the certified check
could be used to receive the funds set aside, and that in
the event that the check was claimed to be lost or destroyed
the bank had no duty to refund the check or reissue it
unless an irrevocable bond for the full amount of the lost
or destroyed check was obtained.

This bank did not, under any circumstances, certify its own
cashiers checks, only checks drawn on customer accounts

Hope this helps.

I concur on the opinions above that someone mentioning or
promising a certified cashier's check has a high probability
of being a scammer.

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BeanTownSteve <s.cronmiller[at]gmail.com> wrote:

- quote -

The definition of a certified check is that it guarantees
funds at the time the check is cashed, not at the time the
check was drawn. Thus the "usually." If it's a
particularly good customer of the bank, and they keep lots
of money on hand, the bank may not feel the necessity of
segregate funds when they certify a check. But I've never
actually seen that happen.

In fact, these days I've seldom seen banks certify checks at
all. The times I've asked at my bank, they have said they
don't do it anymore.

Stu

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- quote -

Note Katie says "usually". In practice I think "Sometimes"
would be more accurate. It (certification) only denotes
that there were funds available to pay the instrument at the
time of certification.

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A.G. Kalman wrote:
- quote -

I thought I had answered this above, but do'nt see it. There
is such an animal, relatively new of course, but necessary
in these days of counterfeiting with top of the line
printers and copiers.

ChEAr$,
Harlan

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ed <edcos...[at]sbcglobal.net> wrote:
- quote -

I've never heard of anyone having a legitimate bank cashiers
check returned for lack of funds or the necessity of getting
a cashier's check "certified" to prevent it from being
returned. Like other posters have said, it's redundant
terminology.

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bmw wrote:

- quote -

Katie wrote:

- quote -

I'm inclined to agree with Katie, in spite of the
explanations that others have offered. The term "certified
cashier's check" turns up in examples of various scams. If
someone you don't know is offering to send you one, it's
probably an attempt to convince you of the reliability of a
payment that is going to bounce.

Bob Sandler

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ed wrote:
- quote -

And how does one go about getting a cashier's check that is
already guaranteed to be paid by the issuer, certified?
There is no such animal as a certified cashier's check. The
term is redundant.

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bmw <bmwdriv...[at]yahoo.com> wrote:

- quote -

A cashere's check is issued by the bank. A certified check
is when you have your own check certified. A Certified
Cashier's Check is when you get a Cashier's Check and to
make sure it doesn't bounce, you have it certified.

ed

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bmw <bmwdriv...[at]yahoo.com> wrote:

- quote -

A cashier's check is a check drawn on a bank's own funds,
signed by the bank's cashier or other officer. Usually a
customer has placed funds with the bank to cover the check.
A certified check is a check drawn on a customer's account,
stamped by the bank with a certification that the signature
is genuine and that there are sufficient funds in the
account to cover the check. Usually the bank will set aside
funds from the customer's account until the check is
negotiated and paid.

I never heard of a "certified cashier's check." If someone
has offered to send you one, perhaps to pay for something
you are selling, better think twice. There are a lot of
scams out there.

Katie in San Diego

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bmw wrote:

- quote -

Used to be that they were two separate animals. However in
recent years, with the advent of accurate copiers and
printers, SOME people have been known to manufacture
cashiers checks. Therefore the need for some kind of
certification of same.

Reminds me of what a client told me today. He had this
"notarized official guarantee" that if the company didn't
sell his business by 12/31 he'd get his money back.

ChEAr$,
Harlan Lunsford, EA n LA

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bmw <bmwdriver1[at]yahoo.com> wrote:

- quote -

A cashier's check is simply an ordinary check written by the
bank. It can be stopped, contrary to popular belief.

A certified check is one where the bank segregates the money
to pay the check, and basically treats it, as far as their
customer is concerned, as if it has already been cashed,
whether it has or has not. Payment is almost guaranteed.
It is difficult to stop a certified check. It's also a
headache for banks, and it is hard to find a bank that will
do that these days.

So a certified cashier's check is a bank check that has been certified.

Stu

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bmw wrote:

- quote -

My banker advises that it is a figment of someone's
imagination.

You are very welcome. Or, as we say in South Florida: "de
nada".

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I've heard the term Cashiers Check. I've heard the term
Certified Check. But, what is a "Certified Cashiers Check"?

Thanks in advance!

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